Companies House

Companies House fees are set to rise as part of the agency’s annual assessment.

Scheduled to take effect from 1st May, 2024, the revised charges impact various services such as incorporation, name changes, confirmation statements, company re-registration, and others.

The agency emphasised that these prices are determined based on a cost recovery model.

“This means our fees must cover the cost of the services we deliver. We do not make a profit on our fees.”

A spokesperson from Companies House elaborated, stating,

“We’re amending our fees to bring them in line with the costs of providing our services but also to recover the costs of our new powers being introduced through the Economic Crime and Corporate Transparency Act.

“This will enable the cost of investigative and enforcement activities that promote the integrity of the register, maintain a healthy business environment and combat economic crime, to be met through fees. This will facilitate the financing of investigative and enforcement activities aimed at upholding the integrity of the register, fostering a healthy business environment, and combating economic crime.”

Alexandra John, product director at IRIS Software Group, acknowledged the “significant” nature of the fee increases and their impact on accountants handling information filings.

“The issue of inaccurate and dishonest information on Companies House records poses a serious threat to the UK economy, affecting the integrity of financial systems and hampering fair competition.

“The filing fee, which has not increased since 2016, may seem large, but it will ultimately enable Companies House to deliver a better service and allow accountants to access accurate information on the register.

“Accountants will be better able to check the credibility of suppliers and other companies their clients trade with. The further digitisation of this service will only improve its integrity.”

Addressing the question of whether the fee hikes are justifiable, Jason Croke, VAT director at Rayner Essex, commented on Any Answers, “If the fees allow CH to actually police their own process, then yes, absolutely justified and reasonable.”

User Matrix added, “There are many changes including providing an email address from 4 March and ID in due course. We will recover the increased filing fee and will bill for any additional work.”

For further information on how this affects you and your business, contact us today.